Polystyrene (PS) Expanded Polystyrene (EPS) Market report is a comprehensive overview of the market’s situation thoroughly examined and compiled by Stratview Research. This new report provides past progress, current market conditions, and a future prospect from the year 2022 to 2028. It also offers accurate overview of the growth strategies, market size, mergers acquisitions, and upcoming products/services of leading key players in this market.
Market Insights
The report analyses the market thoroughly and collects data in order to offer reliable data to the users. The Polystyrene (PS) Expanded Polystyrene (EPS) market is projected to grow from USD 33.79 billion in 2021 to USD 48.45 billion by 2028 at a CAGR of over 4.49% during the forecast period of 2022-2028.
Growing demand for innovative and designed electrical appliances equipped with improved functionalities is likely to boost the usage of PS and EPS in the electronic sector in the coming years. Also, expanding the construction industry which is a significant consumer of EPS further augments the market growth. However, fluctuating raw material prices and the availability of high-performance substitutes are expected to hamper the industry growth.
Market Segments' Analysis
According to Stratview Research, the Polystyrene (PS) Expanded Polystyrene (EPS) Market is segmented By Product (Polystyrene, Expanded Polystyrene), By End-Use (Transportation, Electrical Electronics, Construction, Consumer Goods, Food Beverage, Packaging), and Region.
Based on end-use, the Polystyrene (PS) Expanded Polystyrene (EPS) market has been classified into transportation, electrical electronics, construction, consumer goods, food beverage, and packaging. Under these, the packaging segment held a substantial market share in 2020 and is likely to grow at a considered CAGR during the forecast period. PS and EPS are extensively used in the packaging of electronic appliances, food, retail, and consumer goods, due to their lightweight properties and excellent insulation weather resistance properties, thereby bolstering the segment growth.
By region, the Asia Pacific market held a significant market share in 2020 and is projected to grow at a healthy CAGR in the coming years. This growth is mainly ascribed to a strong presence of product manufacturers, strong automobile production, expanding construction industry growth, cheap labor availability, and easy access to raw materials. Also, the packaging and e-commerce sectors are booming thus offering lucrative opportunities to the market players in the region.
Top key vendors in the market:
The report mentions a list of key players in the Polystyrene (PS) Expanded Polystyrene (EPS) Market. Some of them are mentioned below –
- ACH Foam Technologies (US)
- Flint Hills Resources
- StyroChem (Canada)
- NOVA Chemicals (Canada)
- de C.V. (Mexico)
- Sunpor Kunststoff (Austria)
- Synbra Holding bv (Netherlands)
- Total SA (France)
- Sunde (Norway)
- Trinseo (Norway)
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